Property Gain Tax

[richwang]

I know this will be another unpopular thread. But it is best to bear this risk in mind.

Goverment needs to collect tax (and gain voters).

GST is one of the ways. UK has just increased VAT (the equivelent of GST) to 20%. But HK, a closer city Singapore Goverment is trying to compare, is still 0%.

A low GST is good to win the 70% voters.

So let's turn to the other sources of tax. Property Capital gain tax is another one. If the property price continues to raise, the goverment can introduce (or indeed re-introduce) property gain tax. Of course, that will hit most voters in this forum. So the timing is important.

I was totally shocked about 10 years ago when HDB introduced selling leivy immediately after Election. If the private property price continue to raise, similar thing could happen - immediately AFTER Election.
We need to bear that risk in mind.

Thanks,
Richard
PS. I hope the govement officers are not reading this thread. Otherwise they will raise both GST and Capital Gain tax.:)

[rattydrama]

It does not make a difference anyway as there are huge resources and data for them to compare and decide what kind of tax structure to introduce.

Usually after the election, unpopular measures will follow. Property capital gain tax could be in the pipeline if needed as generally it receive less unhappy voice from the ground as compared to GST. Btw, if we are selling at a lost, does it attract property capital gain tax as well? I think currently the 3-year window for stamp duty levy does not take this into consideration.

[devilplate]

It does not make a difference anyway as there are huge resources and data for them to compare and decide what kind of tax structure to introduce.

Usually after the election, unpopular measures will follow. Property capital gain tax could be in the pipeline if needed as generally it receive less unhappy voice from the ground as compared to GST. Btw, if we are selling at a lost, does it attract property capital gain tax as well? I think currently the 3-year window for stamp duty levy does not take this into consideration.

sold at loss....no capital gain tax BUT got SSD:eek:

[Wild Falcon]

Capital gain tax is a tax on PROFITS. The impact will be minimal. SSD that is more painful has already been implemented. Even when u make losses or zero profits, SSD still has to be paid. And SSD is applied to the ENTIRE value of the property, not just the profits.

[devilplate]

Capital gain tax is a tax on PROFITS. The impact will be minimal. SSD that is more painful has already been implemented. Even when u make losses or zero profits, SSD still has to be paid. And SSD is applied to the ENTIRE value of the property, not just the profits.

huge profit...SSD better....puny profit...capital gain tax better....:D

[rattydrama]

huge profit...SSD better....puny profit...capital gain tax better....:D

all no good lar, have to share with garment and yet we are taking all the risk....

[Wild Falcon]

Psychologically there is a difference. If I make a huge profit, I wouldn't mind sharing a certain % with the government. But SSD is a real cost that will be there whether or not you make a huge profit. If you're targeting sieving out weak investor/speculator, it is a better deterrent.


huge profit...SSD better....puny profit...capital gain tax better....:D

[mcmlxxvi]

I know this will be another unpopular thread. But it is best to bear this risk in mind.

Goverment needs to collect tax (and gain voters).

GST is one of the ways. UK has just increased VAT (the equivelent of GST) to 20%. But HK, a closer city Singapore Goverment is trying to compare, is still 0%.

A low GST is good to win the 70% voters.

So let's turn to the other sources of tax. Property Capital gain tax is another one. If the property price continues to raise, the goverment can introduce (or indeed re-introduce) property gain tax. Of course, that will hit most voters in this forum. So the timing is important.

I was totally shocked about 10 years ago when HDB introduced selling leivy immediately after Election. If the private property price continue to raise, similar thing could happen - immediately AFTER Election.
We need to bear that risk in mind.

Thanks,
Richard
PS. I hope the govement officers are not reading this thread. Otherwise they will raise both GST and Capital Gain tax.:)

Sorry hor brudder, if they reading this thread either they hunt you down or shut this site down first hahaha.... don't be surprised your 'thread' becomes so popular it becomes a 'threat' then next thing you know when we all come by it's a 404...

[mcmlxxvi]

all no good lar, have to share with garment and yet we are taking all the risk....

Look at it positively - everyone wins. Gahmen collect more revenue to upgrade the walkways and install barricades in overland MRT stations to prevent suicides that further reduces already thin population etc. We contribute more to 'nation building' (except SSD cannot claim tax relief)...